Bitget is one of the more reputable global cryptocurrency exchanges, boasting a decent trust score — 7.1 as of October 2023, per CoinMarketCap’s evaluation standards. Established in 2018, the exchange is also known to hit daily trading volumes of almost $10 billion during optimistic market conditions. From features to fees to the quality of customer support and security standards, this Bitget review will unpack every aspect of the exchange in utmost detail.
- Bitget review: Overall assessment
- What is Bitget?
- Where is Bitget available?
- How to sign up for Bitget in October 2023
- Bitget welcome offers/bonuses
- Bitget deposit and withdrawal methods
- How does Bitget compare to others?
- Features and tools from Bitget
- Copy trading on Bitget
- Staking on Bitget
- Security and payment processing
- Bitget customer support
- How have we tested Bitget?
- Bitget review: Regulatory compliance and safety
- Invest responsibly
- Is Bitget the right exchange for you?
- Frequently asked questions
Bitget review: Overall assessment
If you are unsure about trying out Bitget and are pressed for time, here is a quick summary of our assessment.
|Criteria||Supported cryptocurrencies||Supported fiat currencies||Fees||Features||User experience||Customer support||security||Overall score|
In short, the platform excels in a number of areas:
- Bitget offers the right mix of trading tools and passive income opportunities.
- The web3-focussed Bitget Wallet is a gateway to DEX and DApp access.
- The platform offers a competitive fee structure lower than most competitors.
- Bitget employs several security measures to secure the exchange and the wallet.
What is Bitget?
Bitget is a centralized exchange (CEX) based out of Seychelles, with an approximate user base of 20 million. The exchange operates in 100+ countries.
As for the regulatory spread, this Sandra Lou-founded company has the required licensure to operate in Lithuania, Italy, Canada, and Australia.
Did you know? Bitget, since its inception in 2018, has partnered with the likes of Lionel Messi, DOTA 2 Bali Major, the Juventus Football Club, and other notable names.
Bitget even claims to be the latest copy trading platform, and as a company, it is spread across 60 nations with over 1300 employees, fuelling its growth.
“More and more, cryptocurrencies are becoming a safe and trustworthy investment. For this reason alone, the total market cap will increase over time.”Sandra Lou, CEO of Bitget: Twitter
Crypto trading on Bitget
As of October 2023, Bitget only supports crypto trading. The trading options include standard spot trading and futures trading. Bitget leverage trading is also possible for specific pairs, with margin support going as high as 125X for specific cryptos.
Regarding the markets and top traded coins, the BTC/USDT and ETH/USDT pairs take center stage. Bitget also has a decent perpetual contracts spread for the new yet popular PEPE/USDT pair.
Major cryptos that are traded on Bitget
While we have already looked at some of the more popular cryptos at Bitget for both spot assets and perpetual contracts, the website lists Solana/USDT, BEAM/USDT, JOECOIN/USDT, and a few more as some of the popular pairs with the highest 24-hour trading volumes.
Also, if you wish to trade some of the better-known cryptos, ARB and XRP are usually the top players in the spot market.
Where is Bitget available?
As mentioned previously, the Singapore-based Bitget is available in 100+ countries. It is most popular in:
- South Korea
The cryptocurrency trading platform has a decent spread across North America, barring the U.S., Asia, and Europe. However, there are a few countries where accessing Bitget isn’t possible in any given way. These include:
- The United States
- Parts of Canada
And finally, there are a few countries where Bitget is usable but with restrictions and limitations. These include:
- Hong Kong
How to sign up for Bitget in October 2023
If Bitget offers its services in your country or region, here is how you can sign up.
- To get started, you must click the sign-up option listed on top of Bitget’s landing page.
- You can sign up or create an account using your email ID or phone number.
- Regardless of your chosen option, you will be asked to verify this using a code.
- Once done, you must complete a puzzle to show that you aren’t a bot.
- After that, you can opt for complete verification or start accessing the restricted features.
- If you want to use features like copy trading, spot trading, margin support, and more, you must provide a government-issued ID, authenticate your face using the camera, and wait for 60 minutes to get started.
You can use a passport, driver’s license, or even a national ID to verify yourself.
Do note that once you verify yourself, you can start depositing funds, initiate P2P trades, deposit crypto, and unlock a withdrawal limit of 3 million USDT. Also, the choice of verification depends on the type of account you choose. You can start with an individual account or proceed to a business account — with the latter taking close to three days to get verified.
Bitget welcome offers/bonuses
The moment you create a profile, you can access 1000 USDT worth of spot trading coupons. These coupons can be used to get discounts on trading fees and can be redeemed for 50 USDT or 300 USDT at a time, depending on your trading activity.
The coupons can also be used to lower funding rates, margin requirements, and losses. However, you must carefully read the instructions before using any discount coupon or the listed bonuses.
Also, Bitget periodically brings new offers on buying and trading cryptocurrencies using specific payment methods:
Bitget deposit and withdrawal methods
To start trading, you must get ahead of the exchange’s deposit and withdrawal patterns. In the case of Bitget, even without any KYC verification, you can move funds to the Bitget wallet and withdraw a maximum sum of 20K in USDT. However, to deposit crypto or fiat, you must verify your identity.
For fiat deposits, the supported currencies include EUR, GBP, RUB, UAH, and BRL. For fiat withdrawals, though, the levied fee varies anywhere between zero percent for region-specific bank transfers to 10% UAH withdrawals. For EUR and GBP, you need to pay 0.5 EUR or 0.5 GBP for every withdrawal.
For crypto deposits and withdrawals, you need to account for the network fee. Also, while there are no crypto deposit limits, Bitget has imposed limits on crypto withdrawals and trading fees.
Here is how this looks:
Payment methods accepted by Bitget
There might be times when you simply want to buy crypto directly without having to fund the exchange wallet. In that case, Bitget deposit and withdrawal methods include:
- Debit and credit cards
- Third-party payment abeneis like Banxa
Overall, if you take fast buying and trading activities into account, Bitget supports bank transfers, e-wallets, crypto transactions, card-based transactions, and third-party services as payment methods.
How does Bitget compare to others?
Bitget is more like an intermediate cryptocurrency trading platform, boasting many features. However, for standard traders, it is the fee structure that matters most. Keeping that in mind, let us compare Bitget with a few other big names in the crypto space.
Bitget vs. Gate.io
Bitget follows a standard maker-taker model, with each trade costing 0.1%, regardless of how you intend to place the orders. While this is the spot trading fee structure, the maker and taker fees for futures trading are set at 0.02% and 0.06%, respectively. Plus, you can benefit from an additional discount on trading if you use Bitget’s native BGB tokens to cover the trading costs.
From the fee perspective, Gate.io charges a flat 0.2% for both maker and taker, making it less competitive than Bitget regarding spot trading. Also, the trading fee discount, in the case of Gate.io, is determined not by the availability of native tokens but by the 30-day trading volume.
Bitget vs. Coinbase
For Coinbase, you need to pay a higher chunk of trading fee, 0.4% for the maker and 0.6% for the taker. Yes, discounts are available, but only if you ramp up the 30-day trading volume. In comparison, Bitget charges a flat 0.1% for the spot, and the futures trading rates are also lower. Yet, some prefer Coinbase as it is a more beginner-friendly exchange.
Also, the Bitget user interface is pretty self-explanatory and easy to navigate compared to some of the other exchanges. Now that we have examined how Bitget compares to others let us explore the specific features in detail.
Features and tools from Bitget
Besides the ability to buy and sell crypto in one click, Bitget offers tons of other resources for almost every type of crypto user. Let us explore them, one at a time:
A quick buying (selling) interface
As mentioned previously, Bitget lets you buy and sell crypto assets at a clip, using either credit or debit cards, P2P trading options, and third-party resources like Banxa. Then, there is the “Quick Buy” section that lets you quickly buy the crypto of your choice with the fiat you have handy. From USD to EUR to INR to other fiat currencies are supported. To buy, you simply need to connect your bank card.
Diverse trading options
On Bitget, you can trade spot cryptocurrencies, all while getting assets directly from the exchange wallet. Even the spot interface lets you get a margin of up to 10x on certain cryptocurrencies. Besides Bitget margin trading across spot markets, there is futures trading support, with contracts settled in USDT, USDC, or the concerned crypto you are trading. Plus, you can leverage your trading positions by even 125x, depending on the asset you are working with.
Also, if you are a beginner with more simplistic trading requirements, Bitget also offers a fee-less crypto conversion option.
If you are an intermediate or an advanced trader, Bitget’s trading bots can help you automate almost every kind of trading initiative. For instance, if you are a spot trader, you can choose spot grid trading bots to buy and sell at specific levels or simply use the auto-invest bot as your dollar cost-averaging tool.
Advanced traders can opt for spot and Futures Martingale bots, Futures quant, and other options. Then, there is a smart portfolio bot to help you dynamically balance between strategies, all while focusing on arbitrage.
Even though Bitget doesn’t support diversified trading options like forex trading and crypto CFDs, bots can certainly be a game changer for users who can navigate complexity and still take credible trading calls.
The platform also aims to make a foray into web3 foray with its relatively new Bitget wallet. This web3 wallet can be downloaded as a standalone app and dons several hats. For instance, it lets you connect with almost 90 blockchains or mainnets, access over 250K cryptocurrencies, like a DEX, and experience insane user support courtesy of the $8 billion swap trading volume to date.
If you want to explore other possibilities, Bitget Wallet lets you experience DEX-like capabilities with high liquidity, access to popular NFT collections, and connect with over 20,000 DApps. Also, if you already have a browser-specific wallet like MetaMask, you can connect the same to the Bitget wallet to seamlessly move funds around.
The Bitget trading platform isn’t just about trading. Instead, if you plan on holding cryptocurrencies long-term, Bitget has a highly detailed and extensive “Earn” module to help you maximize gains without having to time the market.
And the “Earn” resources at Bitget are anything but one-dimensional. Instead, you can access standard savings plans, dual investment strategies regardless of market direction, Smart Trend investment, and other products. Plus, there is an Earn calculator to help you determine the hypothetical gains in case you subscribe to a fixed or flexible product.
One of the more underrated features of Bitget is its app spread. If you want a more streamlined trading experience, you can ditch the web interface and opt for the Bitget mobile app — meant for both iOS and Android. The Bitget mobile app has many options, like the seamless bot experience, access to technical patterns like candlesticks, and other smart trading options.
In addition to the mentioned features, Bitget also brings forth project launchpads, a sizable BGB rewards segment, and access to crypto loans by using the held cryptocurrencies as collateral, allowing users to borrow against crypto.
Copy trading on Bitget
Bitget hails itself as the largest copy trading platform. With over 110,000 elite traders listed on the platform, Bitget lets new and even intermediate traders copy the strategies of professionals to amplify profits.
Once verified, you can immediately get started and access export knowledge. And the copy trading tools aren’t only restricted to the spot market. You can indulge in bot copy trading, futures copy trading, and other activities based on your preferences. At Bitget, connecting bot trading strategies with copy trading options is also possible.
Staking on Bitget
Usually listed as part of the Bitget earn module, Bitget’s staking support is extensive and lets you simplify passive income generation. Depending on the crypto you wish to stake, you can earn a sizable APR of anything between 4% to 22%. The staking tools at Bitget stand for stable earnings and support flexible redemptions.
Bitget also lets you stake its native centralized exchange token, BGB, with an eight-day free redemption window.
Security and payment processing
Bitget has several security standards in place, making it one of the safest exchanges around. Here are some of the implementations that require explaining:
- Multi-signature wallet: The Bitget wallet and even the standard exchange wallet employ multi-signature protocols, ensuring the segregation of private keys. This adds additional layers of security and ensures that your identity isn’t compromised.
- Wallet segregation: User funds are segregated between cold and hot wallets, steering clear of online threats.
Apart from the mentioned implementation, Bitget also employs two-factor authentication across platforms and even brings DDoS protection into the mix. Also, the Bitget trading platform has received 12 A+ SSL labs ratings, showcasing the firm’s commitment to data encryption. Plus, the exchange has a protection fund to protect the customers’ interests.
How efficient are the payment processing options at Bitget?
Bitget takes payment processing seriously, making way for the swiftest possible deposits and withdrawals. Plus, when it comes to choices, the platform supports debit and credit cards, bank transfers, cryptocurrency transfers, and more. Plus, the SSL protection standards ensure that every possible payment gateway is safe and secure.
Bitget customer support
Despite the mixed Trustpilot reviews, Bitget does have a prompt customer support setup. Some of the key Bitget customer support elements include:
- Live chat support
- Email support via [email protected]
- A detailed support center loaded with FAQs and helpful resources
- A feedback form that can be filled out and paired with relevant screenshots
We raised hypothetical concerns regarding login issues and withdrawal delays and sought guidance regarding bot trading. In most cases, the response time was anywhere between two to four hours. As for the steps, Bitget helped us solve the login issues by sending detailed guides, whereas for the withdrawal delays, we had to submit transaction IDs for the platform to track.
How have we tested Bitget?
As mentioned earlier, we had the opportunity to test Bitget over a number of months. Here are some of the elements we specifically checked:
- Payment processing: With 50+ fiat currencies and multiple payment methods supported, we check the speed and fees associated with card transfers, third-party payments, and more.
- Withdrawal times: We checked crypto and fiat withdrawal durations, which are usually instant. However, bank transfers did take over two days in most cases.
- Customer support: We checked Bitget customer support for raised tickets, and the responses were prompt.
We also checked the trading experience, with the spot interface being loaded with intermediate and advanced-level options. Finally, we checked individual and business account setup timings, revealing that Bitget has a prompt window for business customers. During the testing duration, the platform didn’t show any downtime issues.
Bitget review: Regulatory compliance and safety
Even though Bitget adheres to the international KYC and AML standards, it makes sense to discuss the regional aspects of this compliance. For instance, Bitget is crypto-registered in Lithuania and has a Virtual Asset Service Provider license to operate in Poland. Bitget has also taken steps to adhere to the U.K.-specific FCA regulations.
And in Australia. AUSTRAC and ASIC regulate Bitget’s operation. Therefore, in the more popular markets, Bitget’s regulatory compliance is one of the reasons users consider the platform safe and credible.
Bitget can be a haven for experienced traders and even beginners looking to learn about staking and passive earning options. Yet, as a trader or even an investor, you must invest responsibly on Bitget or any other platform.
While researching the choice of cryptocurrency via the right DYOR approach is crucial, it is also necessary to only allocate capital you are prepared to lose. As such, Bitget has disclaimers and declarations put up across pages, urging users to be careful.
Is Bitget the right exchange for you?
This detailed Bitget review reveals one important thing: if you are an intermediate to advanced trader, Bitget might just be the right platform for you. With regulatory compliance taken care of by popular markets, the exchange also ranks high in terms of trustworthiness. While this Bitget review discusses our insight and experience in detail when choosing a platform, your own individual requirements and preferences should remain front and center.
Frequently asked questions
What is Bitget used for?
Is Bitget a safe app?
What is Bitget company?
Who is the owner of Bitget?
Is Bitget copy trading profitable?
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What country is Bitget in?
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